Ah, social media—the land of cat videos, dance challenges, and… um… questionable financial advice. If you’ve recently stumbled upon a “can’t-miss” opportunity to make quick cash using checks, put down your pen and take a step back. This is one trend you don’t want to follow unless you’re aiming for a starring role in “The Real Bank Fraudsters.”
The “Hack” That Packs a Punch (For Your Wallet)
The so-called “hack” making its rounds involves writing a check for more money than you actually have, depositing it into another account of yours, and withdrawing the cash before the check bounces higher than a kangaroo on a trampoline. The idea is that you can make a quick buck because the check takes time to process. Spoiler alert: This is not a smart financial move—it’s practically an express ticket to Bank Fraud City.
What They Don’t Tell You
The viral post might not mention that once the bank realizes your balancing act is more precarious than tight-rope walking over a pit of alligators, you’ll be held responsible for repaying all of it. That’s right, you could end up owing the bank all that money you so adventurously withdrew. And if that’s not enough to make you reconsider, you could also be kicked out of your bank faster than someone double-dipping at a fancy party. Oh, and let’s not forget potential legal troubles for—you guessed it—bank fraud.
Before You Take the Plunge
Research, Research, Research: Before jumping on the latest social media bandwagon, do a quick search of the trend along with terms like “scam” or “fraud.” You’ll likely find you’re not the first to question the legitimacy of this “opportunity.”
Consider the Source: Does the person sharing the hack have a financial background, or do they mainly post cooking videos and memes? Trustworthy financial advice probably won’t come from someone whose last viral post was a raccoon doing the Macarena.
Cross-Check with Reliable Sources: Don’t put all your eggs in one basket (or all your money in one bad check). Compare advice from a variety of well-known, credible sources.
Learn More: The FTC has a wealth of information to help you avoid falling for fake check schemes. Check them out at ftc.gov/fakechecks.
So next time you’re tempted to try a trendy financial hack, remember: If it sounds too good to be true, it probably is—and you don’t want to be the one left holding the (empty) bag.
For more details on why fake check schemes are a bad idea, check out the original article at ftc.gov/fakechecks.
Original article: https://consumer.ftc.gov/consumer-alerts/2025/08/social-media-trend-thats-actually-bank-fraud